New IRS Deadline Means Your 1099s Could Arrive Later

Traditionally, investors have received their year-end 1099 statements no later than the first week of February, because the IRS imposed a Jan. 31 deadline for the mailing of these documents. Starting this year, however, that deadline has been moved to Feb. 15.

What does this mean to investors? All securities firms will be impacted by the change. At Edward Jones, we expect to mail about 77% of our clients’ 1099s by Jan. 31.

However, the data that we report on our clients’ consolidated 1099 tax statements comes to us from the securities issuers – e.g., corporations, mutual fund companies, government and other entities that issue securities. We cannot produce 1099s until we receive this data. With the Feb. 15 mailing deadline, we expect to receive some of this data after Jan. 31. We will print and mail 1099s weekly in February as we receive data, with all consolidated 1099 tax statements mailed by Feb. 15.

Some 1099s Will Be Marked “Figures Not Final”
If you receive your Edward Jones consolidated 1099 after Feb. 15, be sure to note whether it is marked “Figures Are Final” or “Figures Not Final.” When we do not receive final information from issuers of your investments before the mailing deadline, we must issue a “Figures Not Final” 1099.

If you receive a “Figures Not Final” 1099, be assured that we will work to issue your finalized 1099 as soon as we receive final data from the issuers of your investments. You will receive a final 1099 no later than mid-March.

What Can You Do to Prepare?

  • Work with your tax professional to schedule your appointments after you expect to receive your finalized 1099s.
  • Be aware that you may not receive your Edward Jones Consolidated 1099 Tax Statement by Jan. 31.
  • Enroll in Edward Jones Online Account Access, which enables you to review and print your 1099s as soon as they are available. This could be as early as five to seven days before you receive them in the mail.
  • Be sure to note whether your 1099 is marked “Final” or “Not Final” and make your tax professional aware.
  • If you plan to be out of town during tax season, contact your Edward Jones branch to make arrangements to get your tax forms to your tax professional.
Your local Edward Jones financial advisor and branch associates are happy to help you. For assistance with your personal situation, contact your local branch today.
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Our Tax Hotline is available at 800-282-0829 from mid-January through mid-April.

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